TransFirst, a provider of transaction processing services and payment-enabling technologies, and TRIARQ Health, a performance management services and clinically-integrated care coordination provider for independent medical practices, are pleased to announce a strategic alliance. TransFirst will provide a wide array of payment processing products, including integrated electronic payment processing services, for the medical community. TransFirst’s payment processing product will be integrated into TRIARQ’s electronic medical record system product called gloStream.
One of the most significant issues affecting a physician’s bottom line is their ability to effectively collect patient payments. The problem may be exacerbated as high-deductible health insurance plans become more commonplace. The power of TransFirst’s payment processing solutions, now integrated within TRIARQ Health, can help improve the way medical offices collect patient payments at the time of service and post-adjudication. Additionally, TransFirst enables the acceptance of eChecks and ACH transactions, and provides a secure Internet-based gateway through which patients can pay at their convenience, increasing opportunities for reimbursement. This solution also reduces the chance of human error since patient information is entered only once, then populates into the patient’s records in all of the necessary places.
“In the very complex world of healthcare, we are always seeking to partner with organizations that provide simplicity in the payment collections process for providers and patients,” said Jason Green, Vice President, Health and Government Services at TransFirst. “We are very excited about the relationship with TRIARQ and their provider product solution.”
TRIARQ Practice Services President, Piyush Khanna said, “TransFirst has had a cooperative mindset from the beginning, continuously keeping in mind the best interests of our practices throughout all phases of implementation. TRIARQ Health is very excited to roll out this new system, which increases patient payment options, improves patient relationships, and saves each user time and money. Physicians may see increased cash flow while reducing the costs associated with collecting patient payments, and should see a marked decrease in outstanding patient receivables.”